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<h1>Govt Defines Eligible Applicants for Tax Advance Rulings u/s 245N: Public Sector Companies & Non-Resident Transactions.</h1> The Central Government, under the powers granted by section 245N of the Income-tax Act, 1961, specifies certain classes of persons as eligible applicants for Chapter XIX-B. These include public sector companies as defined in section 2(36A) of the Income-tax Act and individuals seeking advance rulings on tax liabilities related to transactions with non-residents. This notification, identified as S.O. 473(E), was issued on June 21, 1999, and became effective upon its publication in the Official Gazette. It was later superseded by Notification No. 725(E) dated August 3, 2000.